5 Best Wind Power and Solar Stocks To Buy

4. First Solar, Inc. (NASDAQ:FSLR)

Number of Hedge Fund Holders: 36

First Solar, Inc. (NASDAQ:FSLR) is a prominent provider of photovoltaic solar energy solutions in the United States, Japan, France, Canada, India, Australia, and internationally. Hedge funds are piling into First Solar, Inc. (NASDAQ:FSLR). According to Insider Monkey’s database, 36 hedge funds held stakes in First Solar, Inc. (NASDAQ:FSLR) at the end of the fourth quarter of 2021. These stakes were valued at $199.91 million.

On April 28, 2022, First Solar, Inc. (NASDAQ:FSLR) released its earnings report for the fiscal first quarter of 2022. The company reported a loss per share of $0.42 but outperformed EPS estimates by $0.02. Moreover, the company reported quarterly revenues of $367.04 million.

First Solar, Inc. (NASDAQ:FSLR) is making strides in the clean energy space and is announcing a multitude of orders and collaborations. This April, the company announced that it has secured a 750 MW order for its thin-film PV solar modules from Origis Energy, a leading global solar and energy company. Then on April 12, First Solar, Inc. (NASDAQ:FSLR) announced that it will be supplying 4 GW worth of DC PV solar modules between 2023 and 2025 to Silicon Ranch, one of America’s largest independent power producers. Moreover, Nevada Gold Mines, a joint venture between Barrick Gold Corporation (NYSE:GOLD) and Newmont Corporation (NYSE:NEM), is investing in a 200 MW solar power plant designed to accelerate its decarbonization program. Nevada Gold Mines will be working with First Solar, Inc. (NASDAQ:FSLR) to manufacture all modules required to support the 200 MW construction, which is expected to begin in the third quarter of 2022. First Solar, Inc. (NASDAQ:FSLR) is becoming a go-to solar solutions provider, which makes it the fourth-best wind power and solar stock to buy.

On April 29, Baird analyst Ben Kallo raised his price target on First Solar, Inc. (NASDAQ:FSLR) to $98 from $91 and reiterated an Outperform rating on the shares. Kallo noted that the company is exploring partnerships in efforts to expand its operations, and is consistently innovating to extract value from the acceleration of electrification and green hydrogen production.

Lee Munder Capital Group is the most prominent shareholder in First Solar, Inc. (NASDAQ:FSLR) with stakes worth $10.27 million in the company. The investment covers 0.59% of Lee Munder Capital’s investment portfolio.